Whether coaching executives or business owners, I find that even the most success-minded professionals suffer from a lack of confidence in a certain area, or confidence that comes and goes without warning. This is the biggest reason they can’t move beyond a certain point in income or responsibility. Underneath this lack of confidence may be a associated fear of failure – or of success. Whatever the reason, it results in a “stuck state” for the professional.
The most common lack of confidence I see in women professionals (and some men!) is a fear of asking. One of my clients, Sherri, was a seasoned consultant in a large metropolitan area. People loved her services, and she had so many clients that she was running ragged. “I am also hitting an income ceiling,” she said. “I give away quite a bit for free, or I underprice myself for fear that I will lose the sale. It’s probably why I have so many clients. But I am tired of working so hard for such a limited income. And I just discovered that my competitors charge at least 20% more than I do. How do I get over being afraid to ask for what I am worth?”
Sherri’s situation required a two-pronged strategy: one of shifting mindset, and of practicing skillset. When thinking about asking for money, she feared rejection, and loss of reputation and friendships. This kept her from asking for what she considered her full value. I worked with her over the ensuing weeks, using a five-step process proven successful in breaking through old, an old, inhibiting and untrue belief about her abilities. This helped her to step into a new and confident mindset. I then worked with her to exercise the skills of asking for money so that she felt confident and at ease.
Sherri went forward with poise and assurance to share with existing clientele her new rates and packages. Surprisingly, most of them stayed with her, stating that they knew she gave above and beyond price in value. This rise in fee structure and packaging allowed her to hire an intern to help with elementary tasks and activities. She also limited the number of projects she undertook at any given time.
The result? Sherri recently gave me a call. “I have more time, more money, and I enjoy what I am doing so much more. Gaining that confidence to ask gave me back my life and love for business.”
For reflection:
In what area of your business or life do you wish you had more confidence? How much is that lack of confidence costing you in potential business and other opportunities?
Patti Cotton reenergizes talented leaders and their teams to achieve fulfillment and extraordinary results. For more information on how Patti Cotton can help you and your organization, click here.
Leave a Reply